UPDATE 1-Dresser-Rand Q1 beats estimates, keeps view

Thu Apr 29, 2010 5:32pm EDT

* Q1 EPS $0.44 vs est EPS $0.32

* Q1 rev down marginally, but beats est

* Keeps FY operating income view

April 29 (Reuters) - Oil services company Dresser-Rand Group Inc (DRC.N) reported a quarterly profit that beat analysts' estimates, helped by a 59 percent rise in overall bookings. Dresser-Rand also kept its full-year operating income outlook of $260 million to $300 million.

For the latest fourth quarter, net income was $22.3 million, or 27 cents a share, compared with $34.5 million, or 42 cents a share a year ago.

Excluding items, quarterly earnings were 44 cents a share.

Analysts on average had expected the company to earn 32 cents a share, according to Thomson Reuters I/B/E/S.

Total revenue for the quarter fell slightly to $502.1 million but handily beat analysts' expectation of $439.9 million.

The company's overall bookings for the first quarter were $565 million.

Shares of the company closed at $34.92 Thursday on the New York Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Don Sebastian)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.